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Strike (STRK) is the 1348th largest cryptocurrency in the world by market cap, valued at $82,525,992. The current price of Strike is $12.616940054007, which is -7.874% lower than yesterday. Prices have ranged between $14.06 and $13.28 over the past 24 hours. All prices are listed in US dollars and accurate as of January 30, 2023 05:01 UTC.
STRK is the native governance and utility token of Strike, a decentralized finance (DeFi) platform, launched by Spend.com. There is no team or founders behind Strike.
The protocol is operated completely by the community, which means it is entirely decentralized. According to the whitepaper, Strike is a lending platform that enables users to earn interest on cryptocurrency holdings by depositing them into one of the several markets listed on the platform. It also allows borrowers to take secured loans from a Strike pool by keeping a deposit of cryptocurrencies as collateral.
The STRK token is used as a reward mechanism within the ecosystem. It was built and deployed directly on the Ethereum blockchain and follows the ERC-20 token standard. The tokens were made available to holders and users of the platform through distribution. Since there was no official team to govern supply, the supply of tokens is mined by users themselves. To mine the token, the protocol distributes 50% of the coins to suppliers and the other 50% to the borrowers. The distribution ratio is computed using the borrow sizes of all respective markets.
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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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